OREANDA-NEWS. September 16, 2010. The Board of Directors of Rostelecom (RTS and MICEX: RTKM, RTKMP; OTC: ROSYY) adopted a decision to convene an Extraordinary General Shareholders Meeting (EGM) of the Company in the form of absentee voting for decisions to adopted on the following agenda issues:

1. Dividend payments on the results of 9M 2010;

2. Making Amendment # 3 to Rostelecom’s Charter.

The Amendment in question involves making payments of an annual fixed dividend to owners of class A preferred shares equal to 10% (ten percent) of the Company’s net profit for the past financial year divided by the total amount of class A preferred shares outstanding.

In addition, as opposed to the Amendment proposed at the AGM held on June 26, 2010, according to the new wording, in the event that the dividend amount payable by the Company per each ordinary share exceeds the dividend amount payable per each class A preferred share, the latter dividend amount shall be increased up to the dividend amount payable on common shares.

The date for finalizing the list of shareholders entitled to take part in the EGM is September 21, 2010 (the cut-off date).

Ballot sheets will be accepted until November 10, 2010 at the following address: P.O.B. 151, Moscow, Russia, 115280, for the registrar of Rostelecom (OJSC United Registration Company).

The Board of Directors also recommended the EGM to make interim dividend payment for 9M 2010 amounting to:

• 0.0000000411722654% of the Company’s net profit for 9M 2010 financial year per preferred share;

• 0.0000000274519684% of the Company net profit for 9M 2010 financial year per common share.

In accordance with the applicable Russian legislation, payment of interim dividend to shareholders is to be made not later than 60 days after the relevant decision is adopted.

More information about holding the EGMS and dividend payment arrangements can be found on the Company’s corporate website at www.rt.ru, the Investor Center page as of October 8, 2010.